An agreement that allows the provision of “early salary” to groups not covered by bank services

Al Ansari Financial Services Group, listed on the Dubai Financial Market, announced the signing of a strategic partnership agreement with “Hala”, a company specialized in the field of financial technology in the region, with the aim of providing innovative financial solutions compatible with Islamic Sharia for groups not covered by traditional banking services in the UAE, through Providing the “Salary Advance” service and the “Send Now, Pay Later” (SNPL) service, giving the group’s customers greater flexibility and ease in their financial transactions.

Yesterday’s statement stated that this partnership embodies the commitment of both parties to establishing a comprehensive financial system in the country by enhancing financial inclusion and providing advanced services focused on empowering customers, as providing the early salary service is a pioneering solution that allows individuals to immediately obtain a portion of their earned wages before the day of their salaries. This contributes to encouraging financial flexibility and reduces reliance on high-interest credit options, while the “Send Now, Pay Later” service provides customers with the ability to send money to their families and pay it back later on. payments, to enhance their financial capabilities.

Executive Vice President of Al Ansari Financial Services Group, Mohammed Bitar, said: “Our cooperation with Halan reflects our shared vision to enhance inclusion and financial independence. By providing pioneering services regarding access to earned wages, we seek to provide a practical and ethical solution to support the financial well-being of customers, especially those who have limited access to traditional banking services.”

For his part, Omar Ramadan, Managing Director of Halan in the Gulf Cooperation Council countries, said: “In cooperation with Al Ansari Financial Services, we seek to provide pioneering financial services that enable individuals to make informed financial decisions. There is no doubt that combining our long experience in the field of financial technology and Al Ansari Financial Services’ legacy in providing distinctive and reliable financial services will ensure that these solutions meet the needs of groups that do not have access to traditional financial services and set a new standard for inclusion and financial access in the region. ».

This partnership comes only a few months after “Hala” entered the UAE market as part of its regional expansion plan in the Gulf Cooperation Council countries. Since launching its services in April 2024, “Halan” has been able to attract more than 50,000 users in the Emirati market, and aspires to reach… To 250 thousand customers by 2025.

“Halan” explained that by providing customized solutions for the workforce that does not have access to traditional financial services in the Emirates, it provides immediate and paper-free access to financial services, which contributes to empowering individuals and companies through innovative financial solutions, subject to the supervision of the Central Bank of the Emirates.